Apple Inc. bashed GPNE Corp.’s $94 million damages demand as “extreme” and “unreasonable” Tuesday during closing arguments in GPNE’s trial accusing Apple of selling millions of iPhones and iPads that infringe two data-communications patents, telling a California federal jury that Apple should pay nothing.
Nexium buyers pursuing a pay-for-delay case against AstraZeneca PLC and two generic-drug makers told a Boston federal jury on Tuesday that the pharmaceutical companies were trying to game the patent system to overcharge consumers by billions of dollars for the heartburn treatment.
Buchanan Ingersoll & Rooney PC and Bank of America Corp. were slapped with a lawsuit by the U.S. Virgin Islands Public Finance Authority on Monday alleging they wrongly said a $219 million bond offering was tax-exempt, although an Internal Revenue Service investigation proved otherwise.
The European Commission announced €94 million ($119.6 million) in settlements against J.P. Morgan, UBS, and Credit Suisse on Tuesday in connection with cartels that fixed the price of the Swiss franc-denominated Libor and certain Swiss franc interest-rate derivatives near the peak of the financial crisis.
After scrapping a $55 billion merger attempt with British rival Shire PLC in the wake of a U.S. government crackdown on inversion deals, U.S. drugmaker AbbVie Inc. late Monday unveiled plans for a $5 billion stock buyback and 17 percent dividend increase to boost shareholder value.
The New York Federal Reserve Bank identified risks at the JPMorgan Chase unit responsible for the London Whale trading debacle, but did not share these findings with one of the bank’s other regulators, nor did it go through with planned examinations of the unit, the regulator’s internal watchdog said Tuesday.